Hoxton Planning & Management LLC Makes New $851,000 Investment in Tesla, Inc. (NASDAQ:TSLA)
Hoxton Planning & Management LLC has made a new investment of $851,000 in Tesla, Inc. (NASDAQ:TSLA), acquiring 3,285 shares in the first quarter. Other hedge funds have also increased their stakes in Tesla, with notable increases from Rinkey Investments, True Wealth Design LLC, and Aldebaran Financial Inc. Tesla's stock performance shows a market cap of $1.03 trillion, with a recent EPS of $0.40, missing estimates. Analysts have mixed ratings on Tesla, with a consensus rating of "Hold" and an average price target of $303.31.
Hoxton Planning & Management LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,285 shares of the electric vehicle producer's stock, valued at approximately $851,000.
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Several other hedge funds have also recently modified their holdings of the business. Rinkey Investments raised its holdings in shares of Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after buying an additional 29 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the last quarter. Aldebaran Financial Inc. raised its holdings in shares of Tesla by 3.1% in the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after buying an additional 35 shares during the last quarter. Acorn Wealth Advisors LLC increased its stake in shares of Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after acquiring an additional 36 shares during the period. Finally, Capital Management Associates Inc increased its stake in shares of Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.
Tesla Stock Performance
Shares of TSLA opened at $319.04 on Thursday. The stock's 50-day simple moving average is $323.61 and its 200 day simple moving average is $313.14. The stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 184.42, a price-to-earnings-growth ratio of 11.28 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54.
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Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. Tesla's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts recently commented on TSLA shares. Morgan Stanley restated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Roth Mkm dropped their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. China Renaissance reissued a "hold" rating and issued a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Wedbush restated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Tuesday, July 22nd. Finally, Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average price target of $303.31.
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Read Our Latest Stock Report on Tesla
Insiders Place Their Bets
In other Tesla news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,119 shares of company stock worth $246,186,549 in the last 90 days. 20.70% of the stock is currently owned by company insiders.
About Tesla
(Free Report)Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.
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